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tv   Markets Now  FOX Business  October 8, 2012 11:00am-1:00pm EDT

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stuart. stuart: dagen and connell, get me out of this. >> grandpa. dagen: come on now stuart. connell: congrats to charles. that is great. good morning. i'm connell mcshane. dagen: i'm dagen mcdowell. new results from last week's debate, a historic number of americans think mitt romney outdualed the president. connell: california's governor changing seasons, bringing in the winter blend to help bring down skyrocketing gas prices. dagen: why some lawmakers are calling this chinese technology giant a threat to national security. connell: we will have all those stories but let's check on stocks now, as we do every 15 minutes. nicole petallides. nicole: i'm taking a look at the major averages, the dow nasdaq and s&p all pulling back a little bit. the dow jones industrial average down about 1/4 of 1%. we're also seeing the nasdaq and the s&p down even more than that. the tech heavy nasdaq down more than a half of 1%. on a day where the vix, the fear
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index is one of the few up arrows on the big board. i'm seeing retailers, drugs, bank stocks, all of those indexes do have down arrows today as we kick it off. don't forget last week was a winning week on wall street. talking about looking at a health records company. they want to be out there on the market. so they are using citigroup to run their sale, and what they are looking for is second round offers. they already have offers to be taken private by a few names, by blackstone, carlisle group, and silver lake management. we will continue to watch what happens here with all script and drx is the ticker. you can see -- mdrx is the ticker. you can see it is up. connell: the unemployment rate surprisingly dropped to 7.8% last month. there's been all this talk since then on whether it was a real number, which it is. the report revealed there are still some real employment problems in the country that need to be fixed. let's talk about with former chairman of the council of
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economic advisors under president clinton. he joins us from d.c. right now. on this show we have dismissed this idea of conspiracy, this number somehow fudged, no evidence to support that at all. in talking about that, we missed the fact the so-called real unemployment rate includes people who are discouraged, that stayed 14.7%, not good, fewer private sector jobs than forecast were added last month. again, not good. so for president obama, do you think unemployment is still a political liability at this point? >> unemployment is still too high. and much higher than i think he or indeed most of us anticipated it would be at this point in the recovery. the report was a good report. and i'm glad you agreed it wasn't a conspiracy. those folks at the statistical agencies are pretty independent. so it was a good number, but you're quite right. there are a lot of people unemployed, not just 7.8%, but the people who would like to have jobs, but maybe are not looking and --
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connell: right. >> -- and have given up. we need a much stronger jobs market overall to bring those people back into the workforce, maybe 2 to 3 million that would come back into the workforce if the prospects were better. connell: we showed this number that we need 200,000 jobs a month, you know, in order to get the economy at least get it up and going to some extent again. even that there's some debate on the amount of jobs we actually need per month. you know, we have two different surveys. the 873 is from the separate household number, but two thirds of those were part time jobs. if it comes up in the next debate and romney tries to bring up these issues that i raised with you, how should obama handle it? should he say hey we're on the right track things are getting better or say we have a lot more work to do? >> if i were him, i would say both of those things. he can claim that things have gotten better. that he inherited a bad situation and it is now improving, and the last report
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was pretty good even on the payroll side because they revised up the two previous months. but on the other hand, we certainly haven't had the kind of plus 200,000 job numbers that you mentioned, that we would really like to see, maybe even more than that to get the unemployment down to a reasonable level. connell: are we on our way there? or is there any possibility -- again, dismissing the conspiracy theories and all of that aside, is there any possibility this is just a one off, this is just a fluke statistically, because you see that household number is ridiculously volatile, and it goes up and down, all over the place? >> the part of it that's volatile is the employment number, and the survey is designed really to measure unemployment. and yes, it does go up and down. it is only one month data. remember, all around us europe and japan and china are all weak, so we are in a pretty difficult environment. i don't think it's a sure thing we're going to have a continued recovery, but i think the
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chances are that we will keep going. connell: martin, thank you again for always coming on us with. dr. martin bailey with us from d.c. thank you, sir. >> thank you. dagen: california gasoline prices hitting another new record high for the state today. $4.66 a gallon. that is up 86 cents from one year ago. and california's governor jerry brown taking emergency action as the state's prices have become -- well, they are the highest in the nation. connell: they certainly are. we go right now with fox news correspondent adam housely in l.a. with the latest. >> dagen and connell, you mentioned 4.66 a gallon or so, you would be hard-pressed to find that price in much of los angeles. in fact right here behind me you can see this gas station 4.99 for regular, 5.19 for premium. just down the street, the gas there is 5.39 for regular unleaded. across los angeles, in fact, i drove down the state yesterday from northern california to southern california, no matter where you drive, you're finding gas prices in the high 4s for
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regular unleaded. people are not happy at all. take a listen to some of the people that we have bumped into about how these gas prices are so extreme. >> just jump them up real quick and it takes forever to get them back down. pretty ridiculous. >> $10 in gas doesn't even give me a quarter of a tank. it's really out of control. i mean it is almost 5 bucks a gallon. >> -- [inaudible] -- due to increase of gas prices. they have been increasing. i can't afford it. >> so these gas prices aren't expected to come down any time soon. why are they so high? there's a couple of reasons according to to experts in the field and those who own the refineries and gas stations. they say one california has a much higher standard for gas in the golden state. you can't buy gas from surrounding states. and two, you have got a couple of different refineries go down, including a massive refinery fire in the bay area back in august. these refineries aren't able to make enough gas as the demand
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continues to go up, thus the prices go up. senator feinstein says she doesn't believe it, she's going to have call for hearings insinuating the gas companies and oil companies and gas stations might be driving the price up or speculators may. meantime governor brown is saying we could use the winter standard gas here which is a little bit less stringent. some say that might bring the price down a little bit, but only 15, 20 cents and may not happen for a few weeks. meantime gas prices still right around $5. and some people are saying that all gas stations in california may go above that $5 price at some point in the near future, but right now, it's about half and half. back to you guys. dagen: crazy and another reason i'm glad i don't live in los angeles. mr. housely, thank you very much. although the weather is beautiful. >> the driving culture. dagen: i know i love my cars, but not that price. thanks adam, great to see you. where are gasoline prices headed for california? what about the whole country? the man who knows more about it
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than anybody in this nation chief oil analyst for the oil price information service. tom, how quickly will these prices go down in california, but is this a situation that is doomed to repeat itself because of the state's regulations? >> well, i think it's doomed to repeat itself in the next few years. but this one is just about completely over. we have seen the spot prices or wholesale prices drop by a dollar a gallon from the peak last week. and they are off by perhaps 47 cents today. so i disagree with the notion that all prices there are going to be 5. i think you are going to see prices moving lower and appreciably lower, and i also would say that that specification, you operate on kind of a gluten free gasoline in the summertime there. you can't use a lot of inexpensive flour. now, with the governor signing that regulation that allows the winter gasoline, you can sort of fatten the inventories, traders are now fearful that they will
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get caught owning expensive gasoline, so the bipolar market is going from absolutely manic to probably a little bit depressed. dagen: but is this a situation in the state, it is state made in large part, and you've got senator dianne feinstein who wants an ftc investigation into the matter, is that ridiculous or not? >> well, i think the investigations cost money and they find out that this is capitalism at work. now, that said, there's an adversarial relationship between refiners and regulators. california and the west coast is not a region where we've added refining capacity, and yet they still pursue just in time inventory. it is a little bit like the refiners are in team -- you know, in one camp, one team, and the regulators with another team. they don't get along too well. they will have more standards in the next few years that will probably put them at more odds. california will be the laboratory for high prices in the u.s. dagen: what about the u.s. in the coming weeks tom and where
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our national gasoline prices will go? $3.81 is the national average today i think. >> yeah, lower. it is going to move lower largely because the west coast surge is over. and also because these are still really excessive prices given the price of crude. we're talking about crude oil less than 90, maybe 110 or less for worldwide crude and gasoline still selling for 130, 140. so we'll drop. i think the biggest drops will come in november. but i think thanksgiving weekend, you will be worrying about your heating oil bill and not so much about your gas bill. dagen: i love you already, but i like you even more that you even know that. tom, thank you very much. >> okay.
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dagen: from the man who knows more about gas in this country. there you go. connell: the threat to national security is what we're going to talk about coming up, why some lawmakers are taking on this chinese tech giant. dagen: and an apple a day might keep you out of the doctor's office but will also leave your wallet a little lighter. we will explain. speaking of oil, where is it going? there you go, baby, below $90 a barrel. [ male announcer ] this is joe woods' first day of work.
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grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. connell: what are you looking at? dagen: don't look at me. connell: what a start. hey everybody. quarter past the hour. time to go to nicole for stock us now as we do every 15 minutes. did you hear american express is teaming up with wal-mart? nicole: i heard a little something about that connell. let's check it out. let's see how the stocks are faring rite now. -- right now. you can see how they are doing on a day where the dow has been to the down side. this is new news for wal-mart. they are launching the blue
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bird. it is basically a whole idea, a whole payment plan that american express and wal-mart are working together, teaming up, providing financial services to a lot of customers who are low income, live paycheck to paycheck, allow for deposits by smart phone, mobile bill paying, no minimum balance, no overdraft fees, all of this to help those folks who are a little -- low income, and they began testing blue bird late last year and it is going well for them. almost functioning like a prepaid card. american express to down side. wal-mart with -- up arrow. dow is lower as well as nasdaq and s&p. back to you. dagen: thank you nicole. wal-mart stock all-time high today. but this is not so joyous. a warning about doing business with two giant chinese telecom firms. it's been side china's top tell come companies pose a security
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and -- telecom companies pose a security threat. at the top of the hour, the chairman of the house committee mike rogers talks about that dire warning. meantime, banking overdraft fees are heading higher after four years of declines. a recent report shows banks saw total overdraft revenue increase by nearly 700 million dollars year over year to 31 1/2 billion dollars in june. overdraft fees had fallen by nearly 6 billion dollars from 2008 to 2011. and an apple a day could take a bite out of your wallet. apple prices on the rise in the northeast as poor growing weather has hurt the crop up here. many farms forced to cancel those popular not in my household pick your own events. as a result, however, in the west, it's a different story. washington state is producing a bumper crop. connell: you and jonas and the dogs don't go out picking
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apples? not a weekend activity? a company making its first official delivery to space. dagen: and historic win for romney, never have we seen more people give the nod to one candidate in a debate. former clinton advisor doug schoen will be joining us. and also john leboutillier will be joining us. let's take a look at the greenback. [ male announcer ] let's say you need to take care of legal matters.
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i'm lauren green with your fox news minute. the number of people killed by a meningitis outbreak has climbed to 7 as the number of people infected also grows. health officials say the disease which stem ifs contaminated steroid injections has affected 91 people in nine states. that pharmacy that distributed the steroid has issued a voluntary recall of all its products as a precaution. chavez has one his third straight six year term as that country's leader.
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chavez who defeated his rival in a fierce race vowed to deepen his self-style socialist revolution. and the capsule is headed towards the international space station after a successful launch yesterday. the commercial cargo ship is carrying science experiments and other gear to the station along with some ice cream for the three residents in there. and those are your news headlines one fox business network. i'm lauren green. back to dagen and connell. i wonder what flavor it was. connell: we love that space is cream. dagen: i like the freeze-dried ice creamhat you used to be able to buy. can you still buy it? connell: i think you can. dagen: delicious. thank you, lauren. it is time to make money with our man charles payne. connell: grandpa charles today looking at -- charles: i feel older for some reason. connell: congratulations becoming a grandpa. charles: thanks a lot. connell: internet tv, youtube of
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china. charles: yeah, this is interesting. it came out with a lot of hype when it came out as an ipo. every chinese whatever, you know, whether it's youtube or whatever. it's come down to earth. four quarters ago they missed the street by 133%. then mised by 17%. then missed by 5%. the most recent quarter they beat the street by 36%. i have been on their site. there's an english version. even without that i say ads for two broke girls. there was a piece with halle berry. there was an app for paris fashion week. they make their money from advertising. i think it is an interesting company. goldman sachs jumped on the bandwagon as well this morning. risk reward i kind of like it, 18 should be a hard stop because this could be an extraordinarily volatile stock. dagen: what do you think about earnings season coming up? charles: i think the fact that
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we say it is going to be a terrible earnings season has cushioned the blow so if a company loses $10 a share, it may go up $100 a share. this is the game we live in. ultimately i think it is going to reflect a pretty soft domestic economy and global economy. connell: do you like the market? charles: i do from historical valuation point of view. i like mostly individual names but i wouldn't tell anyone to panic despite the fact that is going to be a soft earnings season. charles: stay off these chinese language sites looking for halle berry. -- connell: stay off these chinese sites looking for halle berry. charles: she looks fantastic. connell: well put, charles. charles: i forgot i'm a grand father. [laughter] dagen: you know what? they should not get in your way. connell: that is very funny. dagen: thank you charles. connell: mitt romney latest gallup poll came in this morning very good news for him, gave him literally a historic win in the debate last week.
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how does he keep the momentum going? we're bringing in our friends doug schoen and john leboutillier with their analysis and dagen hopes they will fight. dagen: i hope it is a battle royale. here's some winners today on the s&p 500.
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business. and red bull with some new offerings for consumers that are coming in today. we will get to that. connell: at the bottom of the hour, we have nicole back with stocks now every 15 minutes. big deal for united health today. nicole: that's right the recent dow component recently added to the dow jones industrial average. let's take a look at united healthcare how it is faring. up over half a percent right now. this on the same day that united health is going to buy most of a brazil company, health insurers and also hospital operators. 4.9 billion dollars deal. gives them 90% stake in this company. of course we've talked about such a challenging environment here in the u.s. and it cease the third deal that we've heard in the health insurers business. we also heard of aetna, buying controversy -- buy buy coventry health. there's really consolidation in this industry.
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let's take a look at dow s&p nasdaq. the dow is down about 35 points right now. the s&p 500 down just under 1/2%. the tech heavy nasdaq down 3/4 of 1%. dagen and connell? dagen: thank you very much nicole. here is the number most debate watchers have been waiting for. gallup shows that some historic results developed after americans watched last wednesday's presidential debalt. -- debate. 72% gave it to governor romney. only 20% of those who watched thought the president did a better job. romney's 52 point win is the largest gallup has ever measured after a presidential debate. if you look at the latest reading from real clear politics, this is an average of all political polls. it puts mitt romney in a dead heat with president obama in the race for the white house. doug schoen and john leboutillier are with us. doug used to advise president clinton. john former republican congressman from new york.
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doug, to you first. how does romney maintain this momentum? >> this is a challenge. it is a revival. it is not in any way a fundamental alteration in a race that's always been close. it is closer still, but he's in the in the lead -- but he's not in the lead. he needs to outline clearly where he's going to take america, what his vision is and how most importantly dagen his agenda will impact and improve the lives of ordinary americans. dagen: let's focus short run. what about the vice presidential debate? is it more about gaining wins at this point in that debate and the remaining two presidential debates or not making a mistake? >> well, i think that if i'm ryan, i'm going to try to go to biden, who i think can make a mistake. they are really preparing biden very heavily for this thing. i would try to make some news to reinforce the feeling that maybe
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obama and biden are two empty suits who really aren't up to the job after all. i think that's lingering a little after that first debate. ryan should try to shake the things up. and go after obama's record too. dagen: doug, what about the getting -- you talked about how romney needs to present himself and how he needs to portray himself? how do you do that? because one of the criticisms of the romney campaign has been how they're spending their money and the advertising they have been doing which has been lackluster to say the least. >> you are pointing dagen to one of the areas i think we both feel they could improve. i think they need ads that speak directly to what i was saying before and what john has been talking about both here and elsewhere, which is how the romney plan reducing taxes, regulation, cutting spending, will result in a better america and a better life for the american people. >> yeah, dagen, if you were to go get an interview for a job in any business, you would not go in there and sit during the interview trashing the guy that
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had the job before you. you would try to sell your potential boss, here's what i bring to the table, what i would do, if you hire me to this job. that's the same thing when you're running for office. yet both these guys, maybe they never interviewed for a job, i don't know, but they just want to trash the other guy, and we had 90 minutes of mitt romney being mostly positive about what he would do. and he shot up in the polls as a result. he should make all his commercials that way and the next two debates the same thing. let obama a fester in his own problem. dagen: but is president obama in a tough situation about talking that way about himself in the next debate because of his record over the last -- >> that's again, a very good question and very good point. the obama campaign believes something that arguably has some truth to it, which is that when they go harshly negative, notwithstanding what john said, he goes up in the polls, and the governor comes down. so they've already begun the mitt romney is a liar campaign.
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dagen: right. >> i think the president will be more engaged, arguably more negative, simply because they are prepared to win, as i said, win ugly if they need to, because i don't think they have an agenda or record that they can run on, hence they are going to try and demonize governor romney. dagen: let's talk about the unemployment rate that came out on friday. we saw how it played out over the weekend. very expected, but is that the thing that they ought to be focusing on, the obama administration? >> well they have been and we know from scott rasmussen today that the consumer confidence over the weekend shot up and boom, the president's ratings have gone up overnight since yesterday they've gone up because of that jobs number. >> yeah, that is huge. i think the president will use that. joe biden will use it in the debate. but ultimately the president believes he will win with negative because he doesn't have is a record to run on or defend. dagen: does mitt romney need to sit back and hope the president just makes some huge error at
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this point? >> i think he's got to keep doing what he's been doing which is to be as john said positive on the campaign trail, dagen, but also make it clear there's an alternative approach to failed policies. dagen: how do you think wednesday shakes out? what are the odds you putting on biden making a huge gaffe because that's the reason people will watch frankly. >> better than even odds that he will say something that he shouldn't say that will be a news item. and i think seriously i think this libya thing will be made an issue in that debate to set up the presidential debate next week. it will be about whether we purposely withdrew security out of libya before this attack, and that is a serious thing and a big blemish for obama and biden. dagen: what say you? >> i think the same thing. there is a smoking gun potentially, and i underscore potentially, dagen, in what happened in libya. that could be the october surprise in the campaign. the obama campaign is trying to run out the clock. dagen: you have to worry about syria and turkey. >> you certainly do. dagen: which connell will be talking about coming up not to
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steal your thunder mcshane. doug schoen, john leboutillier, terrific to see you. you can catch them every monday on foxnews.com. it is every weekend on campaign insiders on the fox news channel. there you go. connell: not to steal your thunder at all because mitt romney is the one who hopes he has the thunder. he's speaking right now, there he is, live in virginia, talking about foreign policy, and that's reason we're going to bring up syria. our next guest is john bolton, one of the top foreign policy advisors to the romney campaign, so he should have some insight on what the governor is talking about. we h stay on politics. -- we will stay on politics. plus there's a u.s. company. jeff is there. >> it's a product that is revolutionizing the as seen on tv business. you are watching it come off the production line, not in china, not somewhere in asia, but right here in the u.s. i will talk live to the ceo of the company that is changing the face of the as seen on tv
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business. stay tuned.
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>> hi everyone i'm here with your fox business brief. bp is selling its refinery to marathon petroleum for 2 1/2 billion dollars. the deal also includes a portion of the british oil giant's retail and logistics network in the southeast part of the united states. meanwhile, general motors is revving up its workforce. the automaker plans to hire up to 1500 employees for its new
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information technology innovation center in warren, michigan. this is gm's second of other planned facilities in the u.s. chrysler is recalling pick up trucks in the u.s. the national highway and traffic safety administration says drivers could lose control of the vehicle if the rear axle nut were to get loose. the recall is expected to start next month and affects dakota and 1500 model years 09 and 10. that's the latest from the fox business network. ♪
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connell: let's bring in ambassador john bolton to talk more about romney. as romney speaks, the ambassador will speak to us. former ambassador to the u.n. and advisor to the romney campaign. so he's going -- i know i read some excerpts. he's delivering the speech right now. we haven't heard what he's actually saying at the moment but in reading some of the excerpts, i know he will be -- he will say the u.s. should be more assertive i guess in the syrian conflict. what should we be doing that we're not doing with regard to syria? >> well i think governor romney points out that the policy that the obama administration has followed the past 18 months has been a failure. the conflict continues. we relied on russia to help us find a way to ease the dictatorship out of power. that was never going to work. as a consequence with russia and iran still supporting assad, we
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have had this on going battle with probably over 20,000 civilians killed. what governor romney recommends in the speech -- in the speech is that we carefully select leaders in the opposition who we can trust and see if it is possible to support them. connell: but getting involved ourselves is not realistic, is it? i mean you support them by -- you give them arms is that what you are talking about, that kind of thing? >> right, providing assistance to those that we can identify and trust. you know, again for 18 months we haven't done that. if asked today, it would be hard to identify exactly who it would be that we could provide, even nonlethal assistance to that wouldn't result subsequently in internal bloodbath. connell: what i've picked up from romney today is a difference in tone a lot of it. if america does not lead that someone else will. that seems to be a theme throughout and then he goes
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through these different countries in the region, in the middle east one by one whether it's libya, egypt, we talked about syria, also mentions afghanistan. but in those sections of the speech today where he's mentioning those specific countries, how does he differ? other than tone, how does he differ specifically, do you think, from president obama in the way he would govern? >> well, i haven't seen the whole speech either, but i think what's critical to his approach is the notion that strong american leadership is required. if we're not assertive on behalf of our interests and our values and on behalf of our friends and allies, no one else will be, and part of the problem with the environment we face in the middle east today has been a decline of american influence under president obama. connell: what does that mean -- i don't know how you'll answer this question, but what does that really mean? everybody agrees we need strong american leadership. how does it manifest itself --
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itself in a way it hasn't? >> i could give you a long answer to that question but the short answer is time and again america has not been clear about what its interests were. in the case for example of the ov overthrow of mubarak in egypt in the space of 31 days, the obama administration had four separate positions whether he should go or whether he should say. obviously ultimately mubarak was overthrown, but the impression that the administration give was that america really didn't know what its policy was, and that's very dangerous. it's very dangerous, for example, not to have had a strong policy against iran's pursuit of nuclear weapons. countries in the region draw the conclusion that we're not prepared to engage in the hard decisions that are required to stop iran. so when you add those and many other examples together, it gives the impression of american decline and weakness. connell: former u.n. ambassador john bolton advised governor romney in the past on foreign policy, thank you for joining us
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today. terrific insights as always. >> thank you. connell: all these things matter for oil prices. that's why we talk about them. we will talk with helima croft. she will be with us tomorrow. with the syrian story in the news, helima croft tomorrow on markets now. dagen: always love seeing her and we always love seeing nicole petallid petallides. stocks now and every 15 minutes. nicole: thanks. i'm looking at some names on the move on wall street, cisco is the best performer in the dow jones industrials. also looking at netflix very closely. netflix is the the best performer in the s&p 500 after receiving an upgrade from morgan stanley to overweight from equal weight. you can see the stock is up 10% here just in the month of october alone which is basically over the last week or so; right? it's up 35%. so it's certainly has had a run. but you had morgan stanley talking about the global video platform. amazon's not a threat. and so globally they have expansion potential.
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also watching harley-davidson very closely and that's because their september same-store sales came in and impressive up 5.7% for the sales versus august where they saw a loss of 10% for those sales. so rbc one of the analysts who is coming out and saying that's good news. back to you. dagen: thanks nicole. connell: do you know many of the products you see in infomercials? many of them are made from china. but jeff flock is joining us from a company where all the products are made in the u.s. >> did you ever hate the plastic containers where you can't find the lid? what if the lid was attached? great idea; right? this is the man that came up with the idea. i'm more excited about the fact it's made here. how did you come up with this idea? >> after dinner one night, i couldn't find the lid, so my wife says to me, she says keith,
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you are the plastics guy. why don't you invent something? so the next day, i went out with a new patent-able idea and came up with mr. lid. jeff: here's the other thing that makes this interesting, all this as seen on tv stuff most of this comes from china or other places in asia. how can you make it here more cheaply? >> well, we basically, you know, from material to finished product, it is right in this area that you see right here. we don't have a lot of labor this it. -- in it. the labor in asia is going up. we're able to give a high quality product without paying the freight from asia. jeff: they do it all right here in wisconsin. put up the board if you would of the stock of the companies that are now selling or will be selling mr. lid. this thing is really taking off. and again, all made right here
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in the u.s. they find that there are no lag times on inventory. the technology of this equipment is top here in the u.s. this may turn the entire industry around. we hope so. connell: mr. lid, we were just saying -- jeff: don't order yet. connell: when you can't find the lid, it drives us crazy. dagen: i don't buy you are rummaging through the cabinets in your kitchen looking for up thor -- tupperware. connell: i'm serious. i bring my lunch every day. i eat it at like 9:00 every morning. dagen: anybody who says racing
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isn't a sport, that's not true. that's how dangerous it is. connell: that is scary. let's look at some markets as well. the winners at the nasdaq today. netflix leading the way. we will be right back. úúúúúúúúúú
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c'mon0manp just do it,quick.ú no one's watchingp you0have to if you want to hang with0us
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♪musicú the other one tooú good job woman: my first symptoms were... man: constant tingling in my toes. woman: my leg sometimes will go numb. woman: i had double vision. woman: they said, "you have multiple sclerosis." woman: well, the beginning is the hardest time. man: i kind of had to get a grasp on reality. man: i had to adapt and change very rapidly. woman: i had to learn how to drive with my hands -- yeah, that was interesting. woman: i was a dancer. i don't see walking the way i walk any different than doing a dance. it just looks different -- it's a different dance.
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woman: you see me have an off day. it doesn't take away from who i am. man: a symptom may cause you not to be able to do that anymore, and at one point, i was able to do any of those. woman: get out, exercise every day. man: since i've been cycling, it's definitely helped my walking. man: i make a lot of changes in my life and just adapt to it. woman: i'm going to acknowledge its presence, i'm not going to discount it, but at the same time, i'm going to try my best to not let it stop me. woman: it's a fantastic opportunity to be working together with a common goal of curing ms, and sharing is the key. connell: story of the day for dagen at least the drink that gives you wings now giving you flavors. red bull launching three new flavors. cranberry lime and blueberry. they are calling red bull additions. they will hit the store shelves officially in march. researchers projecting the energy drink industry overall
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expanding 86% over the course of the next five years. red bull expansion signalling the company is trying to keep up with its competition, you know, monster, rock star and all these drinks offer a variety of flavors and now dagen will be what? blueberry? dagen: all of the above. i can't do a homer simpson drool kind of thing. i drink like eight a day. connell: that's our second thing this hour that you don't see on every business show. third quarter earnings meantime. earnings season is kicking off this week. dagen: what moves should you make ahead of that? sandra smith has today's trade. sandra: beware of the fact that the broader stock market has basically just been going straight up, especially since those june lows. there's anticipated drop in third quarter earnings overall from s&p 500 companies. there's a lot of concern from wall street analysts right now that this run-up is not justified by the earnings we are about to get from these companies. we're kicking off with alcoa after the bell tomorrow, and this is a stock that's really been playing around in bear market territory for most of the
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year. been underperforming the broader market. of course this is a major aluminium giant. their products go in everything from automobiles to soda cans, guys. and they are considered a barometer of the u.s. economy. they're expected to break even on sales of 5.56 billion dollars for the quarter. stocks up 6%, guys. here's the thing, not what happens to alcoa, dagen and connell, always matters for the rest of the earnings season because often times when we've seen alcoa miss, if you look back at history, guys, 75% of the time, s&p 500 companies have gone on to beat. so we've got the rest of these companies reporting later in the week. we will have a preview in the next hour. back to you guys. dagen: thank you sandra. some quick sports headlines from this weekend. last night the new orleans saints quarterback brees breaking a record in the team's first win of the season. brees breaking hall of fame quarterback half century old record when he threw a touchdown pass in his 48th straight game. the saints beating the san diego chargers 31-24.
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leaving the cleveland browns as the only winless team in the nfl after week five. and one frightening finish at talladega yesterday. look at this, a scary 25 car pile-up, with one lap to go, a nascar sprint cup race. stewart in the 14 car if you can keep track taking full responsibility for causing it. the defending champion said he messed up trying to protect his lead by blocking michael waltrip's car. you can see it happen right there. and daytona 500 winner matt kenseth took home the checkered flag after avoiding the crash. so to chris in lighting who is badmouthing my sport, i dare you to go one lap in a car doing 100 miles-an-hour, big guy. connell: little inside baseball for everybody? dagen: i don't care, you cannot look at that and say it is not a sport. connell: it's a shame we're lit together because it would be hilarious if you went dark right now. is china spying on your phone
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calls and e-mails? dagen: tune in tomorrow to watch us because i will be green and my teeth will look like they are falling out from bad lighting. connell: how is today different than any other day? dennis and cheryl are up next. keep it here. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.
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like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade.
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well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. collecting overdraft fees resulting in profits. add for customers, but could be good for tanking stocks. dennis: bringing down skyrocketing prices. cheryl: stocks now every 15
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minutes. nicole petallides on the floor of the new york stock exchange. nicole: they have been to the downside. basically all morning long. the vix, the fear index, is to the downside. we have seen some pressure on our financials. the dollar is higher. commodities are selling off. i want to take a look at a real winner. that is netflix. it has taken off. once again, today is no different. morgan stanley raised them to an overweight and a price target of $85. the opportunities abroad for netflix and, also, amazon is really not competition for netflix. on friday, september 28, the stock was $54. here it is at 73 and change.
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cheryl: you and i both have watched netflix very carefully. thanks raising fees and breaking and profits. rising to a new record are checking account. jumping 25% overall. atm fees also up. despite all of this, windfalls to the banks. my next guest says underweight the financials. scott is joining us now. how can you ignore the millions of dollars they are making in these these?
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>> that is true, cheryl. it really has not worked for us. with the new regulations they will not be able to participate like they have in the past decade, that is for sure. loan growth is not very good. a lot of these earnings -- net interest margin is not very good. banks have had a big run here. let's be certain, there have been a lot of six dollar financial stocks that have gone to eight dollars. i think there's run that we have had an financials, i do not think it will last.
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underweight is the way it should be. look at bank of america. cheryl: take a look at jpmorgan. i realize you cannot comment on specific names. look, and lot of customers, they will say they will switch banks. they will not at the end of the day. >> it is pretty sticky. even when these these are raised. you think people will shop around. once you get locked and, it is tough to switch. i think you will see some increased competition on these these. i think these roundups that you talked about, i mean, financials have performed well. the market overall has. i think you have to think forward what will happen from
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here. i do not think you will see net interest income increased much. i think loan growth will not be all that great. i think you will continue to see that. making your money off of fees, i do not think that is a good idea. cheryl: i know that you are telling your client to look elsewhere, you are looking at pullbacks in equities. a couple of sectors that you like, scott? >> we want to pay attention to the consumer discretionary sector, technology, materials have been really beaten up. we want to pay attention to materials. the u.s. recovery will continue here and globally. it will be very modest growth. i do not think financials will be one of the factors, though. cheryl: maybe and a couple of months, we will have to have you
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back. thank you very much, scott. we will see. you are bullish. you think you have already been inundated with too much campaign advertising. dennis: let's take a look at oil. ♪
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dennis: breaking news. here's the china spying on our phone calls and e-mails. they have just issued a rather dire warning. a security threat from two chinese telecom companies operating in our country. we have congressman mike rogers with us. thank you very much for being with us. first, tell us the real threat you see here. you see here. . you have a company that has clear ties to the company. nor did they bother to dispute that. the government we know is incredibly prolific for a private sector, which is unheard
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of. now, this chinese company and their counterpart want to come into u.s. networks. they want to control and be part of the backbone and infrastructure. all of your personal data, personal finance, medical records, as well as, national security issues traveling across these networks. these two companies have not been able to dissuade the committee, and, as a matter of fact, we have information to the contrary that they have changed the equipment. it is a huge, huge concern. dennis: why we should be suspicious, they failed to convince the committee otherwise that they should not be suspicious.
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that seems like a little bit of guilt until you prove your innocence. did you find clear evidence that they are now using equipment to eavesdrop? >> two phases in the investigation. the reports that you saw today is the unclassified version. through interviews with current and former employees, intelligent services, our foreign partners, places like australia and great britain, the information that they participate in these bad activities is overwhelming. the proprietary information in this terminal investigation information in our classified as collect information goes in the classified. tomorrow, all that information will be referred to the fbi for full investigation.
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you have bribery and corruption charges, many things brought to our attention. the answer to that is, yes. would not come out publicly and tell american consumers that your data may be at risk for companies that choose to use them. nor would we set our national security is at risk. the level of this information is pretty significant. dennis: you could be launching a huge tech trade war. cisco does business based in the u.s. did all companies in china should not trust cisco because the u.s. could eavesdrop. >> that is certainly a possibility. it says companies who operate their china have to comply with their state secret love. if the military intelligence and
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civilian intelligent agencies want to use their networks to do it, they cannot even say no. there is nothing even close to that in the united states. this is something we should raise to a bilateral level with china. they have gone on feathered in this activity for years. all american companies know it. there are two companies left in america that have intellectual properties. they are prolific at this. now is the time to say, listen, we will not give you our national security framework just because. we are not going to do that. you need to start playing by the international rules of commerce. dennis: u.s. is a country ruled by love. they fail to provide that.
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you are moving a little early here, which is good, i guess. most of their sales are handsets. they could be listening devices to listen to my phone calls. i do not think the chinese care about my medical plans. >> we did not come out and say than the sale of handsets. i will argue that this is not done. a lot of our information is coming from current and former employees. they have been saying that since the beginning. the problem is, that information -- has an old fbi agent, know the answer to all the questions you ask. they could not answer any of them. they were deliberately not answering questions. we are certainly trying to obstruct our ability to get all the information we need in the
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report. dennis: thank you so much for being with us. congressman mike rogers. cheryl: interesting story. it is 15 past the hour. stocks every 15 minutes. nicole: we are looking at too big names here. bp is selling texas city. a unit other texas refinery. it is valued at $2.5 billion. you can take a look at how the two stocks are faring. they are selling it over to marathon petroleum. marathon is hitting a new high. bp is pulling back one third of 1%. the deal is right in line with the expectation. a lot of folks looking at tp very closely. this is another step in the right direction.
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one up, one down. cheryl: thank you very much. it is time to make money with charles payne. this power he has a dirty fingernail stock for your portfolio. charles: an amazing trend this year, companies that spend money on their stocks are going up. the street really believes most of the stocks are undervalued. it is amazing. i have never seen it like this where the inquiring company, their shares go higher. cliff natural resources. my subscribers are in it. we are getting absolutely whacked in this one. you have two dynamics. you have the local situation. these guys only have one thermal
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mind. they are so positioned, they have mines in canada, brazil and america. the stock acts well today. last month and avalanche of downgrades. that is a huge positive signal. love the action on it today. i would like to see it closed above 41. there is not a lot of resistance until you get to $50. cheryl: charles payne, i like that one. thank you very much. dennis: up and away. [ talking over each other ] dennis: the international space station. cheryl: has the swing state polls are tightening, why the local television stations may be the big winner as the election gets closer.
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let's take a look at how the world currencies are faring against the u.s. dollar as we head to break. ♪ those little things still get you. for you, life's about her. t your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's right.
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>> at 22 minutes past the hour i have your fox news minute.
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turkey has retaliated against syria for a sixth straight day. and turkey -- no one was injured. the two countries have been firing artillery across the borders since last wednesday. chavez has won his third straight six year term of venezuela. he captured 55% of the vote. his smallest ever margin of victory. a commercial cargo ship is on it way to the international space station. spacex dragon capsule is caring many things, including chocolate vanilla swirl ice cream. that is your fox news minute. back to you, dennis. dennis: the gap is narrowing between president obama and mitt romney, even in swing states.
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mitt romney almost even with the president. there is an all out buying bullets for those political ads. john shelton joined me now. thank you for being with us, john. you know what, it looks like there will be an all out spending until the election. >> there is a huge amount of money they share. we see a huge number of ads going out to the swing states. dennis: when i advertise on television, i am normally reaching everybody. how do i narrow that message into the few people that are still undecided? >> well, you do not really want to do that because the people are very targeted towards politics and they are the ones who have already made the
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decision. tv and cable. everybody. they go after all the people sitting in front of that tv. you are going to be able to get to the undecided people by going after a wide shotgun approach using tv. the internet sort of goes right after the individuals. they go after people who are targeted. dennis: you say local tv and cable television, still the number one preferred outlet for advertising. for president obama, far more young voters online than watching television. >> yes. two problems with that. it is targeted, so all the political people have decided who to vote for. they are trying to get the other guy. they are looking for something less targeted. the other thing is that tv tends to skew a little bit older.
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digital, online, tenant to skew a little younger. younger people do not vote as well. dennis: the swing states, local ads and television, already sold out. is it a 5050 split or does one have the vast lead? >> certainly doing a lot of spending. we see a lot of spending on both sides. between the packs and that individual parties, republican and democrat, we see a huge number of dollars. they are definitely going into the swing states, florida, ohio, even new hampshire, colorado, virginia, they are getting a huge number of dollars going through our systems. dennis: more tv ads i am sure in any tv viewer should have to deal with. thank you so much for joining us. >> thank you. cheryl: if you are betting
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washington will not fix the fiscal cliff, we have some stocks that may be worth your consideration. dennis: on the home shopping network -- take a look at some of today's winners and losers. ♪
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cheryl: is 30 past past the hour. stocks now. watching a few movers. nicole: watching a few names dragging on the dow. we see the market selling off
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all day long. take a look at some of the biggest drags on the dow. i can tell you, most of the names are in the red. most of the names are read. home depot, disney, intel, verizon and general electric. both disney and home depot down more than 1% each. a couple names gaining. united healthcare. how about walmart. walmart hitting an all-time high today. they are working closely with american express to make a new prepaid card. great for their customers. some of them are low income, live paycheck to paycheck. back to you. cheryl: they have been trying to get into banking for years. thank you so much. dennis: california gas prices hitting a new record high. $4.67 a gallon.
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jerry brown taking emergency action. adam joining us live from a gas station in l.a. purport. >> summer standard is more stringent. there are reasons behind this hike. one, demand. two, california has a more stringent demand of gas. three, the fact that a number of refineries that make this gas here in california have gone down. a major fire back in august in the bay area. you add all of that up and gas prices are significantly higher. behind me, there are only two cars at the station. the regular prices $4.99 a gallon. the fact that california gas is averaging $4.67, if you find one that low, you better fill up.
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when you talk to customers in the golden state, and the car culture, they are not too happy about this price trend. >> i think the prices are ridiculous. >> people are working and they need a break. it is too high. >> i try not to drive unless i have to. >> it has gone up about $0.52. that is absolutely unprecedented. >> meantime, one of our two senators is calling for congressional hearings. in inside look to this, i should say. that is insinuating there could be some funny business going on. all i know is california consumers are really taking a hit in gas prices. dennis: five dollars a gallon. i would take the subway. cheryl: just to sit in massive amounts of traffic. phil flynn of price futures
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group standing by at the cme. you have to give some people here an idea of where things are going, in particular, california. five dollars a gallon, amazing. >> i think governor brown made the right decision to waive that requirement for the summertime blend. that would have extended the situation. that would release another 10% of supply on the market immediately and the refiners do not have to worry about shutting down, making summer lines and get ready to refuel for the winter blend. this should ease the situation. some refineries are coming back online. we saw the smallest price increase in california since the crisis began. gasoline prices are falling in the rest of the country. that is right. most prices fell between two and $0.15 a gallon. we are seeing the november price
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fall along with oil. almost three cents a gallon. light at the end of the tunnel. back to you. cheryl: phil flynn, that would be nice to see and hear and not pay for. dennis: consumer demand for gas sipping electric car so lackluster that toyota now pitches them on the home shopping channel? toyota taking over hsn last night. they aired 31 hour blocks of programming. after the first hour on air, toyota cut as many requests for follow-up invokes as is expected to get all day long beard hsn reaches 90 million homes and 80% of its audience is women.
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cheryl: coming up, amr, parent of american airlines reporting revenue of last month despite thousands of flight cancellations. dennis: and how playing video games may help your small business is bottom line. ♪ jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring.
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>> i am tracy byrnes with your fox business brief. alaska airlines is reporting significant flight delays due to a computer program. the airline has not been able to check in passengers since 7:40 a.m. eastern time this morning. the airline says that technicians are trying to fix the problem as quickly as possible. american airlines continues to face turbulence over the feet issue. only 42 planes have been repaired. more than 90 flights have been canceled due to the repair issues. honda recalling about 489,000 crv's in europe and the united states. all due to a potential fire hazard. the recall affects 2002-2006 models. fires have been reported because of the issue. that is the latest from the fox business network. giving you the power to prosper. ♪
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dennis: mitt romney taking on
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foreign policy in the speech of the battleground state of virginia. let's go to rich edson for the very latest. >> his pitch to voters have been dominated. in a speech, the men are mitt romney addressed free-trade and the need to open our markets to the american business as a foundation of national security. >> the president has not signed one new free-trade agreement in the past four years. i will reverse that failure. i will work with nations around the world that are committed to the principles of free enterprise, expanding existing relationships and establishing new ones. >> governor romney has also promised -- most of the governors speech focused on the middle east criticizing the president think hope is not a strategy. he promises to put the leaders of iran on notice, prevent them
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of acquiring new nuclear weapons and reaffirmed the u.s. commitment to israel. the obama campaign says that barack obama has one of the strongest national security records in any president. he has taken out osama bin laden, ended the war in iraq, provided unparalleled support to israel, strengthen our alliances and restored our standing in the world. the obama campaign also says romney's plans are void of any specifics. back to you. dennis: thank you very much. cheryl: expect a bullish market result. that is what joe durrant is telling his clients. joe, why do you say that? luckily expect from the markets if romney does pull out a win? >> regardless of who wins is we will get uncertainty.
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it dictates that taxes will go up for upper income americans whether it is because of a higher rate or reduced deductions and they're deductions that we will have a higher amount of taxes that we will all have to pay. what that will mean is they will end up with less after-tax income and they should prepare for that. i think what you are seeing in the market is there path of uncertainty and concern and what we are trying to do is the world would be a lot easier because companies comment and reinvest. cheryl: let me back you up. what you are telling your client is no matter who wins, in november, i note you are saying we will get a bullish market, no
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matter what, our taxes will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the election. if romney wins, stock winners will be care providers, interesting a healthcare provider there.
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>> and the defense contractors also. cheryl: we also showed that basically that defense will be a big loser if the president stays in office. >> there will be different winners and losers depending on who wins. and all environments, you do very well owning consumer brands that that people love. they take advantage of the growth of the middle class. what we suggest is who matters does when. if you are not sure, you should be in index funds. what you want to do after the next several years is what you will find. again, if obama retains, you will want to avoid certain sectors. if romney wins, you will want to invest in certain sectors. cheryl: we really do not know who will win at this point.
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joe durrant, thank you. >> thank you. dennis: it is a quarter till. every 15 minutes we have stocks now. nicole is taking a look at navistar. nicole: it is dumping more than 7%. you have some activists including karl icahn. they have been working very hard to try to change some of the board members. the number of board members would be ten. what they are doing is replacing three board members. the third nominee will be agreed upon by both. that is a change that we are staying here at this company. of course, both of these guys own just under 50% of navistar.
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still think the down arrows of the dow, nasdaq and s&p. back to you. dennis: thank you, no go. using video games to better interact. names like oracle, samsung, ibm, what do you do for them exactly? >> we provide software to companies to add game of vacation to any experience they find. dennis: are you being metaphoric here? tell us how belled media got a 53% increase on registered users? >> we are not talking about adding video games.
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what we are talking about is adding the techniques that work in video games. things like leveling programs, point to programs, achievement and recognition and rewards. we are talking about adding those techniques, which are typically called game mechanics, two business processes. to software, websites. dennis: which is a more important goal, to bring in people to the website that normally would not bother or to actually do a better job of engaging those who are already visiting? >> i think there are opportunities for both. a whole new area that we are seeing is applying these techniques to inside companies can't particularly focus on employees. a recent gallup pull suggested that 70% of employees are not engaged at work. in others study showed 72% of
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employees are not giving 100% at work. not only huge opportunities to providing to consumer activities, but more and more so applying it to employee activities. dennis: surveys show 100% of employees are at work? >> 72% of employees are not giving 100% at work. it is called president he is him. they show up for work and sometimes they will be on facebook worth other things. dennis: thank you very much for being with us. best of luck to you, sir. cheryl: the last ten minutes on facebook was bad for me?
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[laughter] california cracking down. a medical marijuana clinic. we will tell you why. dennis: take a look at some of today's winners on the nasdaq. ♪ [ male announcer ] let's say you need to take care of legal matters.
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cheryl: it is time for your west coast minute. a magnitude earthquake has struck. the u.s. shall jiggle survey says it hit last night. it was 53 miles south of -- mexico. authorities are watching for aftershocks. moving up north. the federal enforcement of california's medical marijuana dispensaries is being called in for question for a lack of effectiveness. they have shut down 600 illegal stores. they continue to operate. it looks like a massive peanut butter recall is expanding. the fda has discovered 35 new cases of salmonella. to most recently in washington state. they are recalling products that are sold at trader joe's, target and even costco.
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dennis: a new earning season. the biggest batch of ipos in month. sandra smith has the details. sandra: odds of initial public offerings. this will be the biggest week for ipos number wise. nine companies will be making their debut. here is a look at just a few of them's. the cloud -based technology company. the second company shutter stock. this is an online stock photographer. also a residential real estate firm. some of which you probably recognize, century 21 and coldwell banker. those are a few of the ipos this week. we will also get a look whether the rally will continue with a look at some of these big names.
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obviously, the aluminum giant alcoa, kicks things off. it is later in the week when things heat up. jpmorgan chase, which, by the way has bounced back 20%. this will give investors a good look. wells fargo, this will give us a look at the traditional banking world. wells fargo shares of 35% since june. things kick off with alcoa tomorrow. nine ipos. it will be a big week. cheryl: thank you, sandra. dennis: an apple a day could hurt your pocketbook. apple prices on the rise. poor weather takes a bite out of the crop. however, in the west totally different story as washington state is producing a bumper
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crop. i.e. apples every every morning, actually. more on the skyrocketing gas prices in california. the governor declaring to bring down prices at that pop. dennis: melissa francis and lori groff and continue coverage. ♪ ember that escapes from a wildfire
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you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. dennis: cheryl talked about paying five dollars a gallon to sit in traffic where she has lived. cheryl: i want that high-speed rail system to work in california. it never will, but i would like that to be a reality. dennis: governor jerry brown trying to help. cheryl: melissa and lori, you will both have more coming back

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